New and shiny bikes are good but there are opportunities out there to save money if you’re willing to buy used. Just like a used car, there are great rewards and risks for those that dare play in the used marketplace. If you have the time and energy to spare and the willingness to understand the key factors in buying a used bike, you may be able to find the best bike for your budget.
And in the pandemic of 2020, note that used bikes, like other exercise and outdoor equipment has risen in price or sometimes doubled in some areas. The demand from folks wanting to get outside and exercise has risen dramatically. So getting a bargain bike is a bit more difficult these days. But good deals can still be had if you follow the tips below. And the key advantage is used bikes are always available. Many bikes in shops and online stores are completely sold out for months and the foreseeable future.
Here are our 5 key tips for buying used.
1) Set your sights on your target bike
The key things to note in your quest are:
- price – Understand your price range and be willing to adjust it based on market conditions
- bike size – It’s absolutely important that you know what size bike you are to avoid distractions
- bike type and suspension travel – What kind of bike and how much front and rear travel. If you have no idea, start with a Trail bike with 100-130mm of travel
- bike brand and models that are desirable to you – Identify a set of brands and models in your target range.
- How far you’re willing to drive locally or if you’re willing to have the bike shipped. Local only at first is good but if you’re looking for a boutique, high-end bike, be willing to have a bike shipped.
A successful hunt starts with identifying the target(s) properly. You need to know the size, type of bike in your target range at the minimum. And if you know the brands and models that you would consider, that is very helpful.
2) Know the online sources for used bikes.
- Facebook Marketplace – This is a great new tool since you can view the profile of the seller and eliminate anonymity and risk.
- Craigslist – the proven but risky trading bazaar
- Nextdoor, OfferUp, LetItGo – A new crop of apps are available and they’re generally for very cheap commuter bikes
- Your social network – reach out and tell your network what you’re looking for. Good deals can be had if a friend sells to you.
- eBay, Mtbr, and other high-end classifieds
Also, use resources to determine the value of the bike. Bicyclebluebook is a comprehensive resource that lists the value of each bike. Given the pandemic demand, their prices are about half of what they’re going for these days. A great real-time tool is the ‘completed listings’ on eBay. This will list down all the completed transactions for a particular search on eBay listings and how much they sold for. Look at the listings and compare them to the bike you are looking to buy. A used bike is really worth only what a buyer is willing to pay for in the current market so comparable, recent sales are a great data point. And of course, ask your friends who are bike experts and send them the ‘for sale’ link before you make an offer on a bike.
3) Turn on Notification.
Be the first to know by entering your search terms in the marketplace and be notified as soon as an ad comes up. This can be done in Craigslist and many Classifieds Apps.
4) Be patient but ready to drive and pay
Big rewards come for the quick since the best deals will be gone in an hour. When you see a deal that is rare or half of what it’s worth, the recipient of this sale will be the quickest buyer who offers the smoothest transaction.
Be ready with Paypal, Venmo or cash. Paypal and Venmo are universally accepted these days so confirm if the seller accepts those forms of payment. Cash is always accepted of course but it’s not that easy to attain these days and not the safest when meeting strangers when carrying a huge stack of cash when the transaction gets pricey.
5) Do a proper bike inspection
Before the meeting, ask several pertinent questions like:
- What year is the bike and how long have you owned it?
- How many miles have you put on it and why are you selling?
- Any problems, damage? Any upgrades since you bought it?
Generally, get a feel for the seller and how responsive and how trustworthy they are.
At the meeting place, find an open, safe and well-lit public spot and do a proper inspection and test drive. Check the frame, fork and wheels for any cracks or damage. Ride the bike for a couple of minutes ensure:
- It is quiet, smooth and straight
- Go through all the gears and check there’s no clicking or hesitation
- Each brake actuates smoothly and reliably
- The shocks are smooth and free-moving
Closing the deal
The bike does not have to be perfect but it is key to understand what each of the major problems is. If there are issues that are unexpected, use those to lower the price by estimating how much it will cost to have them fixed.